MICRO, SMALL & MEDIUM ENTERPRISES LOANS
Loan Terms and Conditions
Purpose of Loan
- SME Loans for the purpose other than the acceptable additional working capital requirements and fixed asset investment.
- Business is considered to be a start-up
- A cash-flow based type of loan
Loan Processing Requirements
- Application Forms duly filled-out and signed by the applicant/s
- 2 x 2 ID Picture
- 2 Valid IDs
- Community Tax Certificate
- Photocopy of latest tax declaration, tax receipt and tax clearance
- Approved vicinity map/ lot plan duly signed by a geodetic engineer
- Bill of material/ approved building plans/ S-curve, whichever is applicable
- Proof of Billing
- Pictures of collaterals
- Pictures of residence/ business
- Deed of undertaking
- Affidavit of non-tenancy (Agri)
- DAR Clearance (Agri)
- Consent to mortgage family home
Eligibility Criteria
- Spouses, Principal Borrowers shall be a Filipino citizen
- 18-60 years old upon registration and acquisition of the titles offered as collaterals.
- With acceptable collateral
- Residence/ collateral is within the present serving area
- Acceptable special power of attorney
- Not engaged in illegal activities
- Must have a good credit record with banks and other lending institutions
- With existing source of income and/or has a projected cash flowe relative to the payment scheme.
- With acceptable collateral
- Not an accommodation
- Must not been turned down by another branch